by The Other Masses – It’s progressing – it’s Change
‘Only 69,000 jobs were added in May 2012′
~ Revisions from previous months also showed the economy gained 49,000 fewer jobs in March and April than originally thought ~
So how many jobs must be added each month?
Brookings Institute, March 2012 – As a result of new adjustments to the data, we now project that, at a job creation rate of 208,000 per month (the average rate for the best year of job creation in the 2000s), it will take until 2020 to close the jobs gap –
The Congressional Budget Office (CBO)-The Congressional Budget Office’s mandate is to provide Congress with Objective, nonpartisan, and timely analysis to aid in economic and budgetary decisions. Long-Term Budget Outlook, updated February 29, 2012 –
CBO –The amount of federal debt held by the public has surged. At the end of 2008, that debt equaled 40 percent of the nation’s annual economic output (a little above the 40-year average of 37 percent). Since then, the figure has shot upward: By the end of this year (2012) , the Congressional Budget Office (CBO) projects, federal debt will reach roughly 70 percent of gross domestic product (GDP)—the highest percentage since shortly after World War II.
U.S. National Debt Clock – Real Time click here
And here in Eagle County, Colorado this matters because also from the May 2012 Jobs Report was this. ‘Construction suffered its largest decline in two years.’
“Come November, please remember!”